PenFed Power Cash Rewards
By Alex Compton · Last verified
2% everywhere for members who keep a PenFed checking account.
Welcome Bonus
Under review
Current claim suppressed
Spend Requirement
Under review
Annual Fee
Under review
Last recorded terms remain in the history below
Credit Score
690+
(Good)
Historical Offers Chart
Every public offer change we've tracked. Hover for details, timing your application is worth hundreds of dollars.
| Observed | Offer | Requirement | What changed | Evidence |
|---|---|---|---|---|
| 2026-06 | $100 | $1,500 in 3 mo | Terms reconfirmed$100 statement credit | Archive record · no attached snapshot |
| 2022-01 | $100 | $1,500 in 3 mo | Earliest record$100 statement credit | Archive record · no attached snapshot |
Primary-source verification log
Append-only evidence ledgerEvent-level primary-source attachments begin with the September 2026 verification system. Older records remain visible but are not retroactively presented as evidenced.
Source checked 2026-06-10 · spot an outdated offer? Report a correction above.
Last Recorded Earning Rates
These terms are historical context and are not presented as current.
- 2xAll purchases (with Honors Advantage membership)
- 1.5xAll purchases (all other members)
Last Recorded Credits
No statement credits, this card wins on earn rates, not coupons.
Last Recorded Benefits
Confirm availability and enrollment requirements with the issuer.
- ✦Honors Advantage via military service or an Access America checking account
- ✦No caps on cash back
- ✦No foreign transaction fees
- ✦Visa Signature protections
Why it earns its spot
- +Uncapped 2% with no annual fee
- +Easy $100 bonus, many 2% cards offer none
- +No FTF, usable abroad
Where it costs you
- −Only 1.5% without the checking or military relationship
- −PenFed membership and a share account required
- −No bonus categories to pair with
The Compound Verdict
A clean 2% card if you are willing to hold a PenFed checking account, and military members qualify automatically. Without Honors Advantage it is a forgettable 1.5% card, so only apply if you will unlock the full rate.
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